The popular crypto exchange Crypto.com announced today the launch of a new trading platform for institutional clients in the United States and the price of the native asset of its blockchain $CRO is jumping 10% as a result.
Trading volumes for $CRO have surged by 50% in the past 24 hours, while the token has accumulated an 83.9% gain in the past 12 months.
We’ve entered a new era 💪
🇺🇸 The https://t.co/A7lhUEyVZW Exchange has arrived in the US
Built for advanced traders, it’s the world’s leading USD-supporting crypto exchange by spot volume and boasts:
🌊 Deep liquidity and low fees for 480+ pairs
💻 GEN3 tech stack for fast… pic.twitter.com/ey3zq7Raej— Crypto.com Exchange (@Cryptocom_Exch) January 21, 2025
In a press release published on Tuesday, the exchange said that this new service comes to complement its trading app – which caters to retail investors primarily.
By expanding its footprint in the United States, Crypto.com is tapping into one of the markets with the fastest-growing crypto adoption rates in the world.
Institutional clients will get access to over 300 different cryptocurrencies through this new trading interface and 480 trading pairs that they can use to get exposure to the crypto market, hedge their positions, and engage in high-frequency trading.
The announcement comes just two days after Donald Trump, the first pro-crypto President of the United States, has been sworn in. His administration is expected to issue several supportive executive orders that provide regulatory clarity to a sector that was constantly harassed by regulators when Joe Biden was in office.
The United States Securities and Exchange Commission (SEC) also announced yesterday the creation of a crypto task force that will work alongside top players in this growing industry to create clear regulatory guidelines to ensure compliance with the law while fostering innovation.
CRO Could Reverse its Downtrend if it Breaks This Resistance Level
$CRO is the native token of the Cronos network – a proprietary blockchain that Crypto.com uses to offer low prices for trading ERC-20 (Ethereum) tokens through its trading platform. This network is also compatible with Cosmos, and it can be used to build decentralized apps (dApps) and non-fungible tokens (NFTs).
Today’s 10% surge in the price of CRO is successfully breaking a bullish falling wedge formation. This could result in a trend reversal in the near term if the price manages to move above a key resistance found at the $0.15 level.
This announcement could be the catalyst that CRO needs to recover from the heavy losses it has been experiencing since its December peak, when it hit $0.2335 per coin.
Cronos ($CRO) is the 37th most valuable cryptocurrency in the market, according to data from CoinMarketCap. The token has a circulating supply of 26.6 billion coins and a total supply of 30 billion.
Back in 2022, Crypto.com rebranded the network as Cronos to detach the exchange from the blockchain project, similar to what Binance did with BNB back then. The exchange has over 100 million clients worldwide.
Solaxy Offers Higher Upside Potential than CRO as it Solves Solana’s Congestion Issues
With less than 28 hours left for the next price increase, the Solaxy ($SOLX) presale has benefitted tremendously from the launch of $TRUMP and $MELANIA as the Solana ecosystem has become even more popular in the past week.
Thus far, investors have poured $13.3 million into this presale event as Solaxy comes to solve the congestion issues that have affected the Solana mainnet during peak usage periods like last Sunday.
By bundling transactions offline, Solaxy alleviates the transaction volumes the Solana network has to process. This should help the mainnet keep up with the significant demand resulting from the rising popularity of meme coins and the expansion of Solana’s decentralized finance (DeFi) ecosystem.
Investors can grab the native asset of the Solaxy layer-two scaling protocol, $SOLX, at a heavily discounted price of $0.00161, which positions them to reap the highest returns once the asset is listed on exchanges.
To buy $SOLX, head to the Solaxy website and connect your wallet. You can either convert your USDT, ETH, or BNB tokens or use a bank card to complete the transaction.
Staking rewards for this token currently stand at 286%, and most investors have opted to stake their tokens to generate additional returns once they receive the token.
